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Credit Card Applications » Questions » User Questions » Other » I have a gamestop credit card with big balance on it. I want to pay it off but cannot decide whether I ...

I have a gamestop credit card with big balance on it. I want to pay it off but cannot decide whether I should pay it off in one month or should I do it in two or more months? I have money to pay it off just want to find the best way of going about it.

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Leo Zhu

The GameStop credit card comes with steep interest rate so the earlier you pay it off, the better it will be. Carrying a balance won’t do any good to your credit wallet and credit score. What matters is payment history and credit utilization ratio. The first should be without any missed or late payments. And the lower your credit utilization ratio, the higher your credit score. So, go ahead and pay off your credit card in one month. You can continue using your credit card and avoid interest payments if you pay off the card balance during grace period.

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